CHISAGO LAKES ARENA INC

EIN: 411655285 501(c)(3)

LINDSTROM, MN

Total Revenue
$220,390
Total Expenses
$333,541
Total Assets
$1,707,391
Net Assets
$1,681,600
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
MN
Tax Period
2020-01-01 to 2020-12-31

CHISAGO LAKES ARENA INC, founded in 1989, is a small nonprofit that reported $220K in total revenue in fiscal year 2020. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $334K exceeded revenue, resulting in a 51% operating deficit.

Mission

CIVIC AND SOCIAL WELFARETHE ORGANIZATION EXISTS TO MANAGE, MAINTAIN AND OPERATE THE ARENA AND DIRECT EXCESS REVENUES TO BE INVESTED IN OUR AREA YOUTH ATHLETIC PROGRAMS. SCHOLARSHIPS ARE GIVEN TO LOCAL YOUTH AS WELL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $11,180
Program Service Revenue $198,824
Investment Income $10,386
Other Revenue $0
TOTAL REVENUE $220,390

Expense Breakdown

Grants Paid $3,500
Salaries & Benefits $101,822
Fundraising Expenses $0
Program Expenses $326,378
Other Expenses $228,219
TOTAL EXPENSES $333,541

Year-over-Year Comparison

2020 2019 Change
Revenue $220,390 $345,398 -0.4%
Expenses $333,541 $345,106 0.0%
Net Income $-113,151 $292 -388.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
17
Volunteers
10

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
11
$72,796
Total Directors
11
$72,796
Key Employees
1
$72,796
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRIS SLETTOM MANAGER 40.00
Officer Director Key Emp
$72,796 $0 $72,796
GREG RADEFELDT DIRECTOR AT LARGE 2.00
Officer Director
$0 $0 $0
KEVIN BAUMGART DIRECTOR AT LARGE 2.00
Officer Director
$0 $0 $0
CHAD NELSON DIRECTOR AT LARGE 2.00
Officer Director
$0 $0 $0
TOM WILSON DIRECTOR AT LARGE 2.00
Officer Director
$0 $0 $0
GARY LAURITZEN DIRECTOR AT LARGE 2.00
Officer Director
$0 $0 $0
NANCY RADEFELDT SECRETARY 6.00
Officer Director
$0 $0 $0
ROD AMUNDSON PRESIDENT 10.00
Officer Director
$0 $0 $0
KEN KALTENHAUSER VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JEFF HENSEL DIRECTOR AT LARGE 1.00
Officer Director
$0 $0 $0
ED ARNOLD OVERSIGHT DIRECTOR 4.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2020 $220,390 $333,541 $1,707,391 $-113,151
2019 $345,398 $345,106 $1,867,857 $292
2018 $434,705 $350,577 $1,902,552 $84,128
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